Argosy Real Estate Partners V Holds Final Closing at $472 Million, Surpassing Target
WAYNE, PA – Nov. 1, 2023 – Argosy Real Estate Partners, an investment manager focused on investments in the lower middle market, today announced the final closing of Argosy Real Estate Partners V, L.P., and its parallel funds (Fund V). Fund V raised $472 million in capital commitments from new and existing investors, substantially exceeding its $400 million target.
Fund V is a closed-end, commingled, fully discretionary, opportunistic real estate fund targeting multifamily, single-family build-to-rent, lodging, industrial, office, retail, and residential land investments across the United States. Investors include pension funds, insurance companies, endowments, foundations, family offices, registered investment advisers, and high net worth individuals from the U.S., Europe, and Asia. The Argosy Real Estate Partners platform is led by David Butler and Andy Stewart, co-CEOs and managing partners.
“We appreciate the strong reception from new and existing investors,” Butler said. “Our team continues to find attractive investment opportunities in the underserved lower middle market.”
“The pipeline of compelling investments for our high conviction strategies remains robust,” Stewart added. “We are also pursuing distressed opportunities that are emerging as a result of the current capital market dislocation.”
Argosy Real Estate Partners typically seeks to invest in opportunities that require between $5 million and $30 million of equity capital. The firm is headquartered in Wayne, PA, a suburb of Philadelphia, and has offices in Denver and San Francisco.
Mayer Brown LLP served as legal counsel for Fund V.
About Argosy Real Estate Partners
Argosy Real Estate Partners specializes in opportunistic, value-add, core plus, and Opportunity Zone real estate investments in the lower middle market. Through joint venture structures, the firm partners with a broad network of experienced and trusted operating partners with a demonstrated track record. The firm manages capital on behalf of institutional investors, family offices and high net worth individuals. As of Sept. 30, 2023, Argosy Real Estate Partners had $3.3 billion in gross value of real estate assets and unfunded equity commitments.
For more information, visit www.argosyrep.com.